Praying for a Strong Economy: International Financial Relationships
The world is more and more a global society. Nations trading with other nations is centuries old, but the speed and level of international trade has grown to such a massive level that some trade agreements can cause inequities and serious financial stress on one nation’s populace over another’s. Trump wants to rewrite the trade rules with which we do business with other countries. He favors bilateral trade agreements with different countries (example: U.S. negotiates separate trade deal with China vs. trying to deal with all 12 nations in the Trans Pacific trade agreement). This is important, as when establishing trade rules between the U.S. and another country, if one party cheats on the terms of the agreement or develops an economic advantage, this can be easily discovered and remedied. Whereas, a trade agreement with many participants is very difficult to monitor and enforce. The economic relationship between China and this nation, in particular, demands our prayerful attention. In addition to the trading of goods, our banking systems are inter-related, as well. Governments buy and sell the debts of other nations, and their currencies are exchanged on the open markets. Each nation attempts to regulate all of these international financial relationships to the benefit of their nation’s needs. (Jerry Tuma and Marc Nuttle)1
“Do to others as you would like them to do to you.” (Luke 6:31; NLT)
Give Him 15 minutes in prayer:
- Pray for favor as President Trump renegotiates America’s trade agreements. The goal is not a “trade war”, but rather to make sure that American companies are not disadvantaged by trade terms versus our economic competition overseas.
- Ask the Lord to help China, Europe and the United States will coordinate their banking systems into a compatible system for accounting, foreign exchange rates, and regulation.
- Intercede that China will abandon its attempt to establish its own banking system separate from the protocol of Western banking standards.
- Pray that the World Bank and International Monetary Fund will be reformed and updated to comply with a new standardized world banking system.
- Pray that China will reform their internal economic system to establish true free enterprise.
- Ask the Lord to cause the Federal Reserves of the world, along with sovereign Treasuries, to work towards managing a foreign exchange rate for all currencies that is calibrated by free markets and not distorted by subsidization.
A prayer you can pray:
Father, we pray that President Trump would have favor wherever he needs it as he renegotiates our nation’s trade agreements with other nations. Make our trade relationships win-wins for all countries involved. Coordinate our independent banking systems, so they work well together and that our exchange rates are true reflections of the strength of each nation’s economy. Reform the World Bank and International Monetary Fund or remove them. Let them no longer hold the world’s poorest nations in the poverty they are trying to escape from. We need Your wisdom through Your people placed in strategic places to provide Your creative financial plans to rectify a world economic system that is corrupt and power-hungry. Help us Lord! Amen.
Today’s decree:
We decree that God will download significant, creative economic ideas to those with ears to hear His Spirit.